Ashurst advises Warburg-HIH Invest on acquisition of Milestone 4 in Freiburg

Ashurst advised Warburg-HIH Invest Real Estate (Warburg-HIH Invest) on the acquisition of the office property development "Milestone 4" in Freiburg im Breisgau / Germany from STRABAG Real Estate GmbH. Warburg HIH Invest acquired the property by way of an asset deal on behalf of its ESG-compliant property fund “Deutschland Selektiv Immobilien Invest II”. The parties agreed not to disclose the purchase price.

The office property, which is also known as JobRad-Campus-Süd, at Heinrich-von-Stephan-Strasse will have a total lettable floor area of around 8,550 sqm. The centrally located building is fully occupied by company bike provider JobRad on a ten-year lease with renewal options. Completion of the project is scheduled for the second quarter of 2023, a DGNB certification in gold is being sought for the property. The “Milestone 4” will provide a mix of co-working and open-space units, individual and multi-person offices along with conference rooms and think tank spaces. The property is part of a larger neighbourhood development in direct proximity to Freiburg’s central station.

The Ashurst team was led by partner Dr Liane Muschter. She was assisted by senior associate Sven Nickel, associate Raphaela Schmidt as well as transaction lawyers Isabella Strauß and Christina Laux (all Real Estate). Senior associate Dr Susanne Knoch and associate Steffen Bellmann provided advice on tax law aspects, counsel Dr Maria Held advised on antitrust law. 

Ashurst's longstanding client Warburg-HIH Invest is one of the leading investment managers for real estate in Germany and Europe. Currently, assets with a volume of €14bn are being managed across 81 funds.